STOCKWATCH: Short-term HKCB Bank under heavy adjustment pressure; dispose while

HKCB Bank Holding (0655) led the second and third tier banks to rise broadly over the related rumors last week. The stock was one of the top gaining list. It hit a new high with big transactions this morning. However, with a large accumulated up-range, plus RSI to face a high position at 80, coming up to test a new high is possible in the short run but technically there should be retreating pressure. Recommend short-term investors to sell while it is high and absorb when it retreated and regained stability. Short-term resistance stance is set at HK$3.45. Retreating supporting stance at HK$2.9.

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